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Non-Base Wage Components as a Source of Wage Adaptability to Shocks : Evidence from European Firms, 2010-2013

Babecký, Jan - 2018

This paper provides evidence on the role of non-base wage components as a channel for firms to adjust labour costs in the event of adverse shocks. It uses data from a firm-level survey for 25 European countries that covers the period 2010–2013. We find that firms subject to nominal wage...

Persistent link: https://www.econbiz.de/10012916521

Ranking, Risk-Taking and Effort : An Analysis of the ECB's Foreign Reserves Management

Scalia, Antonio; Sahel, Benjamin - 2021

The investment of the ECB reserves in US dollars and yen, delegated to a network of portfolio managers in the … existence of risk-shifting behaviour by reserve managers related to their year-to-date ranking: interim losers increase relative … risk in the second half of the year, in the same way as mutual fund managers. In the dollar case, risk-shifting is …

Persistent link: https://www.econbiz.de/10013315986

Inter-Industry Wage Differentials in EU Countries : What Do Cross-Country Time Varying Data Add to the Picture?

Lamo, Ana - 2011

This paper documents the existence and main patterns of inter-industry wage differentials across a large number of industries for 8 EU countries (Belgium, Germany, Greece, Hungary, Ireland, Italy, Netherlands, and Spain) at two points in time (in general 1995 and 2002) and explores possible...

Persistent link: https://www.econbiz.de/10013133674

On the Real Effects of Private Equity Investment : Evidence from New Business Creation

Popov, Alexander A. - 2010

Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...

Persistent link: https://www.econbiz.de/10013152176

Determinants of Firms’ Efficiency : Do Innovations and Finance Constraints Matter? The Case of European Smes

Bonanno, Graziella - 2020

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...

Persistent link: https://www.econbiz.de/10012831402

Bank heterogeneity and monetary policy transmission

Brissimis, Sophocles N.; Delis, Manthos D. - 2010

Heterogeneity in the response of banks to a change in monetary policy is an important element in the transmission of this policy through banks. This paper examines the role of bank liquidity, capitalization and market power as internal factors influencing banks’ reaction in terms of lending...

Persistent link: https://www.econbiz.de/10011605279

Structural Reforms and Macroeconomic Performance in the Euro Area Countries : A Model-Based Assessment

Gomes, Sandra - 2011

We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by simulating EAGLE, a multi-country dynamic general equilibrium model. We consider reforms in the labor and services markets of Germany (or, alternatively, Portugal) and the rest of the...

Persistent link: https://www.econbiz.de/10013127922

Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area

Peersman, Gert - 2011

I find that the Euro-system can stimulate the economy beyond the policy rate by increasing the size of its balance sheet or the monetary base. The transmission mechanism turns out to be different compared to traditional interest rate innovations: (i) whilst the effects on economic activity and...

Persistent link: https://www.econbiz.de/10013119125

Setting Countercyclical Capital Buffers Based on Early Warning Models : Would it Work?

Behn, Markus - 2013

This paper assesses the usefulness of private credit variables and other macrofinancial and banking sector indicators for the setting of Basel III/CRD IV countercyclical capital buffers (CCBs) in a multivariate early warning model framework, using data for 23 EU Members States from 1982 Q2 to...

Persistent link: https://www.econbiz.de/10013074386

Fiscal Policy Shocks in the Euro Area and the US : An Empirical Assessment

Burriel, Pablo - 2009

We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US, we use a standard structural VAR framework, and...

Persistent link: https://www.econbiz.de/10013153261